Top Student Accounts 2007/08 Article Discussion

Wiggynut

trojjer wrote: »

Thought so Helix, it does seem like a more useful freebie than the other banks' offerings -- I mean, Lloyds TSB give you an NUS Extra card for free, but it's a £10 saving versus £120 for the Railcard lol... I just hope the online banking and customer service experience with NatWest is going to be decent for me -- I was nearly tempted by the workings of the HSBC site like I said; but it did crash when I was nearly finished the application on one of their branch computers. So I left it until I got home instead. Then I revisited the Moneyfacts comparison table, and stuck with my decision to apply for NatWest anyway. I'm glad it's out of the way, in any case... I was starting to feel rather indecisive too!

I'll be applying for the credit card too, as I might as well get started on a good credit history -- I'm 20 after all, and I was rejected by Halifax... Plus, like Martin says, it's better than a debit card for online shopping due to the Consumer Credit Act. That's all I'll be using it for whilst studying, because I should be able to pay it off in full each month. As for the £1,250 interest free overdraft -- well, I'm only going to put about £1000 in savings when I've settled on a budget; then I'll think about what to do with the £60 or so that I'll be making each year for the next 4... I'm a bit scared about operating a current account that's constantly in debt, but as long as I put the money in an instant access savings account, I see it as a perfectly safe thing to do. And the 2nd year student who works at the HSBC branch says she does exactly the same thing with her account...

I did feel as though it was a bit dubious that HSBC tell people to "Go Green" with their banking, yet have rather pointless HDTVs showing the Olympics and whatever else, on the walls -- and despite drawing the students in with their "cool and trendy" appearance, the branches have even less of a personal feel than most, as they could be mistaken as being a "hub" for their online banking...

I'm with HSBC at the moment - joined a year and a half ago.. .took more than a month and 15 phone calls just to get the cheque book/debit card/paying in book - probably something that happens with most banks sometimes (they did eventually give me £30 though for my troubles because I complained - that's the moneysavingexpert sites influence )

the rail card is also useful if you live in London and use an oyster card - for offpeak travel you can get a 34% cap on the max fee off the travel card option - this included pay as you go oyster cards (which is what I use - I walk or bike mostly) but could still come in handy over 3 years of studying.

so I think I will be going for the Natwest option - keep the HSBC account for the e-ISA account higher interest rate.

and sell the webcam (when joining online)

once it's opened then I just need to call the student finance peeps and give them the new bank details.
(just got my payment schedule from them too... eeek... getting nervous now )

trojjer

Well I don't live in London but I might be using the train a few times in the years to come... I'm actually staying at home for the first year, which I hope I won't regret too much! But it's saving over £1000 in rent, because my parents only want about £100 per month, and I live closer to the uni than the cheapest student accommodation (bearing in mind that I'm not guaranteed a place at the halls of residence anyway, as I live too close). There are a few luxury developments springing up in the neighbourhood, but I don't need to spend money living there...

Could I have both the NatWest and HSBC accounts? I'm weary of the comment I read earlier, that someone had CCJs because of having more than one student account -- but as far as I can tell, the HSBC terms only say that you need to make a deposit of at least £300 or so every term... I'll check that. I suppose I don't need to be too greedy with the overdrafts lol; I should be careful...

Edit: Nevermind, it says right here when you click "Apply" on the HSBC site...

To apply for Student Service you must:

• Be 17† or over and about to take a qualifying full-time undergraduate course of two years or more at a UK, Channel Islands or Isle of Man university/college or a part-time course with a Disability Student Allowance
• Have been a resident in the UK, Channel Islands or Isle of Man for three years or have a bank account with a member of the HSBC Group
• Not hold any student accounts elsewhere.

Wiggynut

trojjer wrote: »

Well I don't live in London but I might be using the train a few times in the years to come... I'm actually staying at home for the first year, which I hope I won't regret too much! But it's saving over £1000 in rent, because my parents only want about £100 per month, and I live closer to the uni than the cheapest student accommodation (bearing in mind that I'm not guaranteed a place at the halls of residence anyway, as I live too close). There are a few luxury developments springing up in the neighbourhood, but I don't need to spend money living there...

Could I have both the NatWest and HSBC accounts? I'm weary of the comment I read earlier, that someone had CCJs because of having more than one student account -- but as far as I can tell, the HSBC terms only say that you need to make a deposit of at least £300 or so every term... I'll check that. I suppose I don't need to be too greedy with the overdrafts lol; I should be careful...

Edit: Nevermind, it says right here when you click "Apply" on the HSBC site...

To apply for Student Service you must:

• Be 17† or over and about to take a qualifying full-time undergraduate course of two years or more at a UK, Channel Islands or Isle of Man university/college or a part-time course with a Disability Student Allowance
• Have been a resident in the UK, Channel Islands or Isle of Man for three years or have a bank account with a member of the HSBC Group
• Not hold any student accounts elsewhere.

I'm keeping my HSBC account - but as a normal account... the Natwest one can be the student account.
I don't want that much in overdrafts anyway... have to pay it back eventually!:rolleyes: